Earlier this year, Credit Union Strategy analyzed all federally insured credit unions in the United States. We looked at the return on assets of credit unions within four asset ranges using data gathered from the 5300 Call Report. Then, we ranked them into the top 100 credit unions in each asset category.
We have begun conducting interviews with these top credit unions so others can learn from their success. Following is our interview with Marine Credit Union in Wisconsin.
Marine Credit Union
Q: Tell me about Marine Credit Union
Marine Credit Union takes our name from Mercury Marine, the outboard motor manufacturer based in Fond du Lac, Wisconsin, which was our original sponsor in 1949. We have been a community credit union for over 30 years. We’ve completed 12 mergers in the last 16 years, and we are in the middle of buying five bank branches.
Marine is focused on service to the underserved. We do a lot of non-prime lending. Our average member is younger than average for credit unions, has a lower credit score and has less money on deposit. At Marine, you are more than a number. You are a human being with a story. We serve everyone, especially those with past financial challenges. Everyone, from our tellers to our Board of Directors, share a deep connection to our mission.
Q: What is your background?
At my core, I’m a farm boy from rural northern Wisconsin. I grew up on a dairy farm where we learned the value of discipline and hard work. I came to the credit union industry from the consumer finance business, which is similar to the approach we take at Marine. I’ve been the CEO since 2000. My job gets more challenging – and more rewarding – every year.
Q: What would you like to tell other credit unions about profitability or increasing their ROA?
Some executives are scared of profitability. They are concerned it doesn’t mesh with the mission of a credit union. We have to get past that. The reason small credit unions are going away is less about competitive pressure than it is about their inability to make money. They have to hold capital, but they are not even keeping up with inflation.
Credit unions over $500 million are growing faster than smaller credit unions. It doesn’t matter if you like the concept of profitability or not. It’s the price of admission to being a functioning business; you have to have it. The desire to earn a profit will distinguish which credit unions keep growing.
First, you have to commit yourself to it. Then you have to define your niche. Too many credit unions want to provide exactly the same products and services as other credit unions across town. That is not strategy.
Why should someone do business with you? Think about what your strategy is in terms of price, product or service. Then balance your scorecard language to support it. You can’t be a leader in all three. You have to be a follower or a laggard in one of those areas. For example, lag in price but lead in product. You have to be purposeful.
Q: What’s the real challenge for credit unions regarding profitability?
Credit unions have told themselves a lie about member value. The truth is, members would pay you for it. We have shifted the conversation away from profitability, and instead we talk about “member value.” However, what we are defining as member value is not how they define it.
The second challenge is identifying that niche. If we all have the same strategy – providing the best service – that is not the key to profitability. The key is differentiation. What makes you different than the competition?
Q: Is it your aim to be a top 100 credit union in profitability? If not, what are your three key focus areas?
We are not looking to lead in every category. We are looking to run our business the best we can. Our benchmark is to compare to ourselves against peers. Our market is the key.
We sit in the top 5% of our peer group. Yes, we are among the top 25 credit unions in the country in terms of ROA. And $1.49 will get you a cup of coffee.
If we were owned by investors, would that return satisfy them? We provide that return on equity. Some define return as lower fees, member dividends, etc. Our return is to the future of our organization – investing back into growth so we can serve more people and employ more people. Our goal is to make enough money that the communities we serve today, and the additional communities we will serve as we grow, benefit.
Is profitability a strategic goal or just a result of your other goals you set for the credit union?
We have two top-line goals: growth and earnings. We have key subordinate goals which drive growth and earnings, like how many people we are helping and serving.
Q: What would you want other credit unions to do to be more successful in increasing ROA?
Develop a niche. Following the herd doesn’t work. We have all been insulated from each other by geography or SEGs. Not anymore. Billion dollar credit unions will be competing with each other in the same neighborhoods. Some already are. You have to do something to be different. All of us need to be thinking about what to do when someone else shows up in our space.
Q: If you say yes to greater profitability, what do you as a credit union have to say “NO” to? What are the trade-offs?
One of things you have to say “no” to is being all things to all people. For example, you don’t have a credit card program, or you don’t do commercial lending. You’re not open on Saturdays. You have to be purposeful about saying “no” to things that are standard in the industry. At Marine, we chose not to offer credit cards, because ours could not be different. We walked away from that space. We walked away from Saturday hours and commercial lending, too. They were not what our members needed.
Secondly, profitability is like a see-saw or a scale. We can be all-in on profit, or we can be all-in on mission or service. The real mission question is about the balance on that see-saw. How much do you invest into profitability vs. other things?
Investing in profitability can help drive your mission. We have an obligation to our communities to be profitable. Because of our success, we are able to take risks on borrowers and members that other businesses can’t afford to take. Nearly half of the people we’ve served in 2017 have poor or no credit history. These are people whose past financial challenges cause other financials to turn them away, leaving no other options but predatory lenders. Since 2014, when we formed our Marine Credit Union Foundation, we’ve also given back more than $400,000 to charitable organizations in our communities. In the past two years our employees have taken nearly 1,000 hours of paid time off to volunteer. We award $7,000 in scholarships every year. We are able to do all of these things to give back to our employees, our members and our communities, because we are profitable. That’s our mandate in terms of being a good corporate citizen.
Q: What was the most valuable or useful lesson you learned while climbing the ladder of increasing profitability?
Doing fewer things better is the key to being profitable.
by Colleen Cormier, Account Executive for On The Mark Strategies
This is the fifth and final installment of a blog series about qualities that define strong leaders.
I have a friend who recently quite a job on the spot. She had no job lined up to replace the one she was leaving, and she didn’t even give a two-week notice. She was miserable because she felt the company lacked integrity and her boss was a tyrant. She said staying there a minute longer would have felt like she was selling her soul.
Those are pretty strong words, but they demonstrate what we’ve been writing about in this blog series on leadership. A “bad boss” is often the reason valuable employees leave companies. When I asked her what type of boss she was looking for, she said one who is a team player.
The late author Dale Carnegie would agree. He once wrote, “The best organizations in the market today are those that use the synergy and potential of all employees to go forward, rather than having a single person dictating what should be done…the collaboration of employees working with their leader as an engaged team can move the company faster forward.”
The question is, how do you maintain your authority as a leader if you are also a member of the team?
Help when help is needed
Sometimes employees need help. Maybe several unexpected tasks popped up or it’s a time when they happen to have several looming deadlines. Perhaps they have an appointment and have to leave their teller window earlier than normal. Step into that teller window for them. Take one or two of those unexpected tasks (as your time and ability enables you). Do what you can to decrease their stress level. The fact that you’re even willing to help will make employees respect you more.
Give credit where credit is due
Few things kill morale more than when a leader takes credit for an idea or a project that wasn’t his. When you work as a team, give credit as a team. It’s okay to tell the CEO or VP that employee X came up with that idea or employee Y did the bulk of the work. It shows that you, as a leader, not only respect your employees but also have the leadership strength to put together a diverse team of loyal and talented employees.
Make decisions as a team when feasible
When you have a decision to make that affects the team or various stakeholders on the team, involve them in the solution when you can. They are the experts in their fields. They may know something you don’t and might offer a solution you didn’t realize was a possibility. People also feel valued when you respect them enough to involve them in the decision-making process. It shows them you trust their expertise and their ability to do the job you hired them to do.
Being a team player doesn’t mean you give up your authority as a leader. It means you help when you can, seek employee input (especially when they have more expertise than you in certain matters) and use the strengths of your entire team to help your financial institution succeed.
by Colleen Cormier, Account Executive for On The Mark Strategies
This is the fourth in a series of blog posts on qualities that define strong leaders.
You may have seen the video that went viral recently of a school principal disciplining a janitor for leaving eight minutes before his shift was over. That video is a textbook of example of how good leaders do not treat their employees.
To summarize the incident, the principal calls the janitor into her office to reprimand him for leaving 15 minutes early. He explains to her that he actually left eight minutes early. He says he thought it would be okay because he started work 15 minutes early that day. When he got to work, the fire department was onsite waiting for someone to unlock the building so they could check the fire alarms. She makes so many leadership mistakes in this conversation, which she doesn’t realize he is recording.
Good leaders listen
The principal asks the janitor seven times what his work hours are. He answers that question three times. She asks him three times what time he left that day but when he tries to answer, she keeps cutting him off. She does this throughout the conversation and then wonders why he is frustrated. He is frustrated because she is accusing him of doing something wrong but won’t let him explain his side of the story. At one point, she tells him to stop talking, and toward the end of the meeting, she tells him the meeting is over while he is still speaking.
Even during tense situations, good leaders must listen to their employees. Don’t keep asking them questions to which you already know the answers, and if you do ask questions, give your employees a chance to speak.
Good leaders show respect
The principal is very condescending to the janitor. She spends most of the time talking at him instead of engaging him. She asks him four times who his boss is. When he explains to her why he opened the building early, clearly thinking he did the right thing by accommodating the fire marshall, she tells him he needs “permission” to do that and she didn’t give him permission. She also says, “They are not your boss,” and tells him he can’t adjust his hours just because he feels like it.
Reprimanding an employee does not mean belittling him. Sit down with the employee and tell him you called the meeting to discuss whatever it is you think he did wrong. Explain why you believe it was a mistake and then give him the opportunity to explain why he thinks it was the right thing to do. Be firm, if necessary, but don’t use words like permission and boss to remind him you are in charge. Say something like, “In the future, please ask me before you start your day early or leave before your shift is over.”
Both of these people made mistakes. He assumed he could leave a few minutes early because he came in a few minutes early. He should have talked to her first. She was on a very condescending power trip. Nothing he said was going to be right. She had made up her mind before he walked through that door that she was calling HR because he left eight minute early. Don’t be this principal. Do whatever it takes to listen and show respect for your employees, even when you are reprimanding them.
by Colleen Cormier, Account Executive for On The Mark Strategies
This is the third in a series of blog posts on characteristics that define great leaders.
When I started writing this series, I was curious about what attributes people looked for in people they report to at work. To get the fastest and most random sampling of answers, I took to social media and asked people to tell me about their best boss ever. I was not surprised by the answers. One of the top responses was a boss who teaches and develops employees.
“I had the best boss ever,” said Barrie Glascock, a respondent on social media. “She wanted to understand the issues and inner workings in all departments. She used that knowledge to teach everyone around her, even those out of her supervision. I would have followed her off a cliff, because I knew she had a plan and had my best interest always.
Great leaders take an interest in their employees. They care about the people who do their jobs well and want to see them succeed. They teach, they motivate and they help their employees advance in their careers. Following are some tips for being a leader who teaches and develops the people who report to you.
Help them create a career plan or employee development plan
As a leader, your job is to help your employees identify their strengths and weaknesses. Use that information to help them achieve their career goals. If they are a valuable employee, help them determine if they can advance within your financial institution, and do what you can to set them on that track. Something that always helped me when I worked at a financial institution was a section on my annual performance evaluation for career goals. My supervisor always took the time to work with me on that section during my performance review.
Train them for their future job
Part of the development process is helping prepare your employees to reach future career goals. If you do not have the skillset to do this, connect them with others in your financial institution who do. Encourage them to talk with people in positions they may want some day. Teach them leadership skills. Approve them for outside training that will better hone their skills. If you financial institution has a college tuition benefit, help them determine if they could benefit from that based on their career goals.
“My best boss gave constructive advice, not criticism” said Kim Martinez, another social medial respondent. “She really wanted us to succeed. She always asked what I needed them to do for me to make me successful. I loved her.”
Be willing to let them go
This might be one of the hardest things a leader has to do, because it means losing valuable employees who get promoted. I have known supervisors who did everything right until they got to this step. I have seen supervisors intentionally lie about an employee’s performance so they wouldn’t get promoted and therefore would not have to be replaced. The question you have to ask yourself is why would you spend so much effort helping someone advance and then not let them go when their big break comes. Great leaders have to do the right thing, even when it makes your job temporarily more challenging.
When Mark Arnold started his career as a marketing coordinator, he was admittedly doing a bad job. At one point, his boss told him, “You will always be a failure in marketing.” He was crushed and transferred to the collections department. Four years later, he went back into marketing and had a supervisor who poured his life into Mark’s career. Countless financial institutions have benefitted as a result. Great leaders make all the difference. Be the leader who makes a positive difference by helping your employees succeed.
by Colleen Cormier, Account Executive for On The Mark Strategies
This is the second post in a series about qualities that define great leaders and how you can live those qualities in the workplace.
When I worked at a credit union many years ago, I reported to a wonderful leader who did so much to help me flourish and grow in my career. In many ways, I owe my career path to Lori Daniel. She was a fantastic role model and figured out very quickly in her leadership role that surrounding herself with a team of people who were good at what they did was the best way to be successful.
“A leader can’t be an expert in all areas, so a good one will hire the right people who are great at what they do, and then get out of the way and let them do it,” said Daniel, owner of The Daniel Group, a promotional products company. “For example, I have never been a numbers person but if I am in charge of a budget or determining the profitability of a marketing campaign, I need to make sure there is a numbers expert on my team to oversee those left-brain type of activities that are not in my comfort zone. A good leader will also NOT hire like-minded people. It’s important to have different personalities, backgrounds and viewpoints represented within the team.”
If you read the first post in our leadership series, you know “bad bosses” are the number one reason people leave their jobs. Typically, these bad bosses fail to make their employees feel valued, violate a trust, take credit for work they don’t do and/or fail to empower their employees (among other things).
Empowering employees is challenging for leaders who are not comfortable relinquishing control. However, when you empower your employees to take on tasks and make responsible decisions, you take pressure off yourself. You clear up time to focus on other things they cannot do. You make them feel important.
“Most employees want to be empowered and given the opportunity, they will run with it and thrive. Those rare gems make a leader’s job a breeze,” said Daniel.
Here are three ways to help empower your employees.
- Trust them to do the job they were hired to do
Think about it this way. Why did you hire these people if you didn’t find them capable of doing the job? If you have put in place a team of experts, and you have properly trained them and communicated expectations, give them the opportunity to show you what they can do.
- Provide the tools and information they need to make decisions
Empowerment doesn’t mean you give up all control. You’re still the leader. Train them and give them the right tools to make good decisions. Whenever they come to you with a question, ask them what they think the solution is. After they respond, give them your answer. By doing this, you help them grow and reduce the amount of responsibility on your shoulders.
“You have to let people know that you are there if and when they do need help,” Daniel said. “It’s also important for leaders to give their team the tools they need to effectively do their job (training, budget, supplies, resources, staffing, etc.).”
- Delegate authority and provide opportunities
Don’t just delegate the grunge work. That’s not empowerment. Delegate decision-making opportunities like taking your place in meetings or on teams and committees. Involve them in projects that expose them to new ideas. It doesn’t have to be all at once. Add new responsibilities gradually as they prove themselves capable of handling more.
As cliché as it sounds, a team and its leader are only as strong as their weakest link. Don’t let that link be your leadership. Like Daniel says “Well-trained, empowered employees working in a team environment makes a business more successful. Satisfied employees + satisfied customers = increased profitability.”
This is the first post in a series about qualities that define great leaders and how you can live those qualities in the workplace.
by Colleen Cormier, Account Executive for On The Mark Strategies
A friend of mine was reminiscing recently about a former “boss” of hers who always made her staff feel appreciated. It was obvious by my friend’s facial expressions and the tone of her voice that she had a great deal of respect and gratitude for this supervisor, even so many years later.
“She would leave little Post-it notes on our desks that said ‘good job’ or ‘thank you’ for doing something that was already part of our job,” my friend said. “Then all year long, she would keep a record about those things and recognize us at the end of the year. I never felt more appreciated than I did when I worked with her.”
Appreciation in the workplace matters. For many people, appreciation is a basic human need. Your employees spend more time at work than they do with their families Monday through Friday. They want to feel like their time away from home makes a difference.
Appreciation also impacts your bottom line. The Harvard Business Review, Inc. Magazine and Global News (among others) all report that a “bad boss” is the number one reason why employees quit their jobs. According to a report published by Bersin by Deloitte, companies lose an average of $100,000 for every employee who leaves. Interim reduction in labor costs, lost productivity, cost per-hire and the first year of orientation and training all factor into that cost. You also have to consider potential loss in client relationships and the cost of the knowledge walking out your door. That’s significant for something within the company’s control.
Appreciation and recognition do not have to cost a lot of money or take a great deal of time. Here are some easy and inexpensive ways to make your employees feel appreciated.
Say Thank You
It doesn’t get much easier than this. When an employee reaches a work goal or does something notable, say thank you or congratulations. Write them a note and leave it on their desk. Recognize them in a team meeting or team e-mail. Fill their cubicle with balloons. Make sure to do it in a timely manner before the moment has passed.
When your team reaches a goal, order pizza and celebrate their accomplishments. Surprise them with morning donuts or breakfast tacos. Buy (or make) a congratulations cake. In addition to recognizing them, you are a creating good memories by giving your team a chance to gather and celebrate.
Keep a stash of small gift cards ($5 to $10) to places your employees enjoy eating or shopping and reward them periodically for meeting a goal or going above and beyond. Or, give them special tokens they can save up for larger rewards, like a half day off work. Who doesn’t love receiving a gift?
Appreciation matters. Great leaders appreciate their employees.
Get your attention? Good – I hope so.
Now that you have had a moment to catch your breath, let me explain.
British statesman Sir Winston Churchill said: “Plans are of little importance, but planning is essential.”
You’d be hard-pressed to find truer words in the strategic planning process arena.
Your strategic plan, once hammered out and put on paper, is really nothing more than a tool for direction, a compass for your credit union to follow in shifting winds. Too often, credit union executives come out of the strategic planning process completely fixated upon that which is on paper. Guess what? Times change. The markets change. The ripple effect of an interconnected globalist economy means a drop in the bucket in Beijing can be a tidal wave once it reaches Bakersfield.
Your credit unit strategic plan absolutely must include the fluidity to adapt to the only inevitability in the business world — change. You simply cannot look at your credit unit strategic plan like your television remote control; in other words, something with which you can tap a button and make the world bend to your will. It just doesn’t work that way. Using that analogy, a better way to look at your strategic plan might be like the dial on the radio. Don’t like the station you’re listening to or is it coming in fuzzy? Reach for the dial until you find something you like better of that comes in crystal clear.
One of the greatest values of strategic planning is not the document itself but the time in which your team puts into it. Those days facing each other across the table are invaluable when it comes to confronting differences, acknowledging past successes and failures as well as hammering out some kind of general consensus about the future of your credit union.
Obviously, your credit union must have a strategic plan in order to move forward. What that plan requires to succeed, however, is flexibility in its planners when the inevitable scat hits the fan. Perhaps the best way to cap off every strategic plan is with the famous Boy Scout motto, “be prepared.” Be prepared for the unknown. Be prepared for change. Be prepared for your strategic plan to require considerable updating the day after the ink dries.
But you know what? This is a good thing. Adaptability is a linchpin of the successful evolutionary process. If your credit union become so bogged down in the printed page of the strategic plan, it is far less likely to bounce back to rapidly changing elements in the financial services world entirely outside its control.
This is then when your credit union leadership team will most realize the value of the strategic plan that, while existing on hard copy paper, is also is fluid and malleable as water flowing around a stone.
Strategic planning, in other words, is not a destination. It is a journey. Are you ready to take that first step?
During strategic planning sessions, credit union executives usually storm the beach like pirates in search of plunder. Whooping and hollering, sabres drawn and pistols at the ready, they are prepared to take on anything and anybody. Nothing will stand between them and their goal of hidden riches.
Great. Sometimes you can storm the beaches and accomplish amazing things. While there’s nothing wrong with this positive attitude, credit unions will benefit equally (if not more) from a realistic assessment of the things they actually cannot accomplish.
Look at it this way – your credit union is comprised of a limited number of people. Those people, no matter how talented, have a limited number of hours per day they can work. And if you work them (or expect them to work) more than what is reasonable, you will drive that horse right into the ground.
Similarly, your credit union has limited assets in terms of budget. If you don’t believe me, ask your friendly neighborhood CFO. He or she is usually delighted to tell you exactly what you can and cannot spend. Your strategic plan may call for amazing things, but if you don’t have the bucks to back them up, you’re chasing fool’s gold.
Your credit union is also most likely limited to what it can handle operations-wise. While having too much of anything is often blithely described as “a good problem to have,” in the credit union world, nothing could be further from the truth. The size and scope of your operations allows you to serve a certain bandwidth of members and their needs at any one time. If you take on more than you can chew, all you will do is disappoint and disenchant members and limit the opportunity to expand wallet share amongst them.
People, money and operations are just a few of the limitations your credit union faces when it comes to strategic planning. Hiring an outside facilitator can help you realize this in such a way that does not allow for internal finger-pointing and blank.
Certainly, the goal of every credit unit is to grow so that it can hire additional people, earn additional money and increase its operational capacity. However, for your strategic planning process to be successful, it was also included a healthy dose of realizing those things which it cannot accomplish, and why.
Anything else risks burning out your people, spending money you don’t have and stretching the limits of your operational resources. These are all recipes for disaster when it comes to strategic planning.
Strategic planning sessions should never be the same. But all too often they can devolve into a repeat of previous years. Even the usual exercises, like the SWOT analysis, are overused tools that result in a boring session.
Rather than repeat the same process, maybe it’s time to flip your planning session. In other words, “flip” your session so that it starts before the event.
Flipping your planning session actually begins with a mindset. Way too many credit unions and banks think of strategic planning as a “session” or a “date” on the calendar. It is neither. Strategic planning is a process. Understanding that concept means you can change how you plan.
Here are three ways to “flip” your planning session:
- Conduct a pre-session—If you are only devoting one day a year to strategic planning, then your process is flawed. Rather than trying to cram everything into one day or even a day and half, consider doing a pre-session “session” so to speak. These typically take place several months before the actual session and help resolve some key issues, such as overall vision, direction and issues that must be addressed.
- Read key material—Have you ever experienced one of those sessions where some of the people attending didn’t have a clue what is going on in the industry? One way to avoid that challenge is to “flip” your session and require participants to read select content ahead of time. And by this we don’t mean the usual financial reports or MCIF data. As an example, for our clients we prepare a pre session packet of four or five short articles regarding key issues challenging the financial services industry. These help ensure our clients are prepared for high-level strategic discussions.
- Survey participants—The first time participants are exposed to addressing key issues should never be the “day of” the event. Rather, gather their thoughts ahead of time by asking important questions. Not sure what you should ask? Then check out these 10 questions to ask at your planning session. Compile the answers either on flip charts or a PowerPoint so that when attendees gather for the actual meeting you don’t waste precious time. In essence you have “flipped” much of the work.
The most successful financial institutions plan all year long. If you want to follow that same pattern, then begin by flipping your strategic planning session. For more information about On The Mark Strategies trademarked strategic planning process, click here.
Note: this entry originally ran on CU Insight.
Traditionally, strategic planning sessions for credit unions occurs in the fall. However, after partnering with dozens of credit unions as a facilitator on strategic plans over the last few years, I can safely say that a growing number both plan and conduct their sessions at other times of the year.
We remind our clients regularly that strategic planning is a process, not a date on a calendar. Therefore, any time of the year is a good time to take a look at ways to improve your next strategic planning session.
Credit unions spend a great deal of time and energy making the commitment and investment in strategic planning. During those crucial days together, executive leadership teams and members of the Board of Directors contribute ideas and dialogue that will both guide and direct the credit union for years to come. Consider the following ideas to improve your next strategic planning session.
- Invite a more job-diverse team. Typically, strategic planning sessions are attended by members of the executive leadership team and the Board of Directors. For your next strategic planning session, however, consider assembling a more job or role-diverse mix. Try to include younger employees (think Millennials) and those you have identified as your “star performers.” Not only will a more eclectic team contribute potentially game-changing ideas, you are also grooming them for future success by making them feel like an important part of the credit union.
- Give your members a voice at the strategic planning table. Not necessarily in person – however, you can provide invaluable member feedback in the strategic planning process by conducting interviews and surveys beforehand. Quiz members about what’s important to them in a financial institution and what they expect. Present this information during the strategic planning session and, with actual member input, you’ll find yourself more likely to act upon ideas important to the membership and less flying blind. One exercise we do is “The Empty Chair Exercise.” Place an empty chair somewhere in the meeting room as a reminder that if a member were in that chair, what would they tell us?
- Clarify the roles of strategic planning and tactical/budgeting. These are very different functions. Strategic planning takes a look at your credit union’s directives from a 30,000-foot level over the next several years. We call it strategic for a reason, rather than tactical. Tactical goes into the daily operations of the credit union. The same can be said for budgeting. If you aren’t careful, a strategic planning session can rapidly devolve into a tactical/budgeting snipe hunt. If everybody on your team focuses too much on numbers and tactics, you are likely to miss the forest for the trees and steer your strategic planning session straight into the confusing high grass of tactics and budget.
A strategic planning session is like a good map or GPS in that it provides reassuring guidance and direction for your credit union for years to come. By assembling a more role-diverse strategic planning team, giving members a voice at the table and clarifying the roles of strategic versus tactical/budgeting, you can help ensure your credit union’s next strategic planning session provides a terrific return on that investment.